An international shipping document issued by a carrier to a cargo exporter. It serves three purposes: (a) definition of the contract between the parties, including details of the shipowner’s duties and responsibilities for the property (as defined) from the port of shipment to the port of destination; (b) receipt for the goods delivered for shipment; (c) evidence of title, and as such is transferable by endorsement and delivery. A clean bill carries no qualifying endorsement; a ‘dirty bill’ may be endorsed, for example, ‘badly packed’. Copies are kept by the master, the shipper and the consignee.
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A document issued by a carrier that is a receipt for the merchandise or other property to be transported, and that outlines just what the carrier agrees to do and his responsibilities for the property.

The amount payable to the shipowner for the carriage of cargo and by common law earned only on completion, unless otherwise agreed. See ADVANCE FREIGHT.

Pays agreed sums to fund household bills following accident, sickness and unemployment. The insurance is not linked to a credit agreement and therefore stands alone.

A certificate that sets out a general description of vehicles rather than identifying the vehicles covered by their registration numbers. Particularly useful for fleet insurances, it obviates the need for fresh certificates when a fleet owner buys or sells vehicles.

A motor policy describing the vehicles in general terms rather than specifying them individually. The policy usually refers to any motor vehicle, details of which have been notified to the insurer. When a change of vehicles takes place the substitution does not have to be endorsed on the policy. The Motor Insurance Database does not preclude blanket policies or certificates, but for tracing purposes, under the European Directive, the policyholder must maintain a record of vehicles.

A liability insurance restrictive endorsement excluding work on blast furnaces. The clause is equally a gasometer clause, or a towers clause, given the other buildings (hangars, steeples, bridges, viaducts and roofs other than private dwellings and/or shops of not more than three floors) also named. They all call for close scrutiny from the underwriter because of their height or other physical characteristics.

The combining of conventional insurance with financial losses in a single programme, as in multi-line insurance. Risks can be priced on a portfolio basis – and therefore cover may be available for risks that, in isolation, would be too costly to insure. The financial losses are based on falls in a specified index and not the actual portfolio.

The limit used by a property insurer to put a ceiling on the maximum amount of business he will write in respect of any one block of buildings.
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The maximum value that an insurer will cover in respect of a given city block.